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Benzinga’s M&A Chatter for Friday December 30, 2011

By Insider Scoop
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Courtesy of Benzinga.

Here are the M&A deals and chatter for Friday December 30, 2011:

AT&T to Acquire Leap Wireless, MetroPCS

The Rumor: AT&T (NYSE: T) will purchase either Leap Wireless (NASDAQ: LEAP) or MetroPCS (NYSE: PCS) as a substitute deal for T-Mobile.

On this last trading day of 2011, there was only one major rumor going around.

AT&T is looking for additional spectrum, now that the T-Mobile deal has collapsed. Speculation on these names intensified today with major moves in both Leap (up 9.42%) and MetroPCS (up 5.34%). Shares of Leap Wireless traded in a range of $8.42 to $10.04 on 3 times the average daily volume, closing at $9.29. Shares of MetroPCS traded in a range of $8.19 to $8.75 on slightly more than the average daily volume, closing at $8.65.

There was vague chatter of Sprint (NYSE: S) perhaps being added to the list of potential or rumored prospects next week.

(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.


For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.

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